Friday, December 2, 2011

cover critical illness insurance

The explanation of cover critical illness insurance
Do you need cover critical illness insurance to get the recommended treatments? The following explanation can help you to get cover critical illness insurance.

There are three main types you can buy insurance to protect yourself and your family: life insurance, private health insurance and critical illness insurance. If you want to fully electronic financial health, you can select all.

Cover critical illness insurance is products that contract with insurance companies generally provide lump sum cash payment, if insurance is diagnosed with one of the listed cover critical illness insurance policy.

This is also the policy of regular income and compensation payments by the insurance also may be subject to surgical intervention, for example, after he underwent heart surgery.

This policy allows the policyholder to survive on the minimum number of days (the survival period) from the disease at diagnosis for the first time. The period of life varies from company to company, but 28 days and 30 days is the period of life most commonly used.

Terms of the agreement that contains specific rules to determine when and diagnosis of critical illness is considered valid. Can determine that the need for diagnosis by a doctor who specializes in diseases or conditions, or perhaps a special test, such as myocardial infarction ECG changes, which confirm the diagnosis.

In some markets, but the definition of a claim for many diseases and disorders uniform, and that all insurance companies will use the same claims definition. Standardization of claims definitions may serve many purposes including increased clarity of protection for policyholders and greater comparability of policies from different life offices. Thus, in the United Kingdom and the Association of British Insurers (ABI) statement of best practice is a set of standard definitions for common critical illnesses.

Cover critical illness insurance was founded in 1983 under the name of the insurance phobia, and started to accepted in the market include insurance in many parts of the world. Another name of insurance against serious diseases, including: serious illness insurance, crisis cash and living care.

Schedule of disease vary between the insured and the insurance company. In 1983, four covered by the policy conditions, heart attack, cancer, stroke and coronary surgery. Since then, several conditions have been added, and now with the comprehensive coverage under the 154 diseases.

Examples of other conditions which may include:

  1. Alzheimer

  2. Blindness

  3. Deafness

  4. Renal failure

  5. Head of organ transplants

  6. MS

  7. HIV / AIDS infected through blood transfusion or during the process

  8. Parkinson

  9. Limb paralysis

  10. Terminal

Because of the fact that prevention of this disease can be reduced with the passage of time and in every diagnosis and treatment may increase from time to time, and financial need to cover some of the most important disease for a decade is no longer considered necessary today. You may also find some conditions which are now no longer required one year or ten in the future.

The facts range of coverage depends on market demand, and competition among insurance companies, and insurance on what they see as the benefits provided value. This condition is for reasons such as diabetes and rheumatoid arthritis, among others, has become the rule in future coverage.

Critical illness cover originally sold to finance the protection of individuals in the wake diagnosis or treatment of disease is very important to provide.
Finance received and can be used:

  1. To pay for the care and treatment

  2. Assistance to pay for recreation

  3. Payment of debt

  4. Replacement of lost income due to reduced ability to make money

  5. Funds for lifestyle changes

Critical Illness can be purchased by individuals or a term life insurance policy to ensure that at the time of the houses, known as a "bolt-on purchase payments. The reason is financial protection to policyholders or dependents insured mortgage resulting from the disease or serious condition in death of the insured to pay. In this kind of product design, whether you will choose a number of insurance on the structure of the product to one part of the mortgage debt to meet client and serious illnesses, while total mortgage payment to the insured's death. Conversely, the number of fully paid and stressed that the diagnosis of serious diseases, but do not pay more than the progress of death, serious illness was asked to accelerate the payment of death.

Some companies may also be serious illness insurance for their employees. This contract will be awarded in the form of the team, and an important strategy used by employers in all parts of the world, both to protect the financial staff and hire more employees to work for the company.

Insurance against severe disease and appears to have changed that fundamental policy and insurance, which many people all over the world to see the purchase worthwhile.

cover critical illness insurance provides a payment if you suffer from a serious illness that falls under the general administration of contracts. You do not have to be disabled to collect. Unlike disability insurance, you are not used.

Cover critical illness insurance payments are usually in the form of a lump sum, but can be used, please - use the money for medical bills, wheelchair, adjust your home, your mortgage or pay other bills, home health care or even a vacation in Hawaii. Restore the condition usually associated with serious injuries, illness and major surgery.

Insurance against serious illness that can be purchased in a variety of ways, including:

  1. At the state and the individual policies.

  2. As part of employment benefits or benefits paid by the employer or payroll deduction (where you can pay the premium and this is deducted from your salary).

  3. To complete the health insurance policy.

  4. As a complement to live.

Cover critical illness insurance generally limits run from $ 10,000 to $ 1 million. Mutual of Omaha recommend buying the policy, the three elements:

  1. 12 to 18 months of income.

  2. Mortgage payments for a period of three to five years.

  3. Total credit card debt outstanding.

You are policy studies at the waiting period, also called "elimination period", which is the time to wait after the diagnosis before receiving benefits. For most of the policy, if you die from a serious illness in the waiting period (and no special drivers to cover it), and no interest will be paid to you or your estate.

Before buying a policy, understand the limitations and exceptions. Exceptions include the model of critical illness was diagnosed during the waiting period in the policy, self-injury, suicide and illegal activities.

Most of the major diseases and the policy were issued for a period of not less than 2 years and a maximum of 20 to 25 years. If you are over the age of 65 years, and most insurance policies do not sell it. If you bought your policy early 60s, the cost will be steep.

Although the location of the various activities and medical policies adopted, this means that the price based on personal factors, if you plan to buy the group guaranteed issue. Plan for the group, the price is determined by age and number of people who work for the company, not a medical issue a request to do so. But be excluded that the plans for the group to all the circumstances that prevailed before the policy applicable to covers.

If you buy an individual policy, you may be in a telephone interview from the Department of Insurance Company, and the liquid through the mouth, and blood and urine. If you have heart problems or with relatives who suffer from heart disease already, there may require a medical exam, EKG, medical research and take the electric factory (TEKG), and if you're a smoker, and chest X-rays.

Cover critical illness insurance is priced with a number of factors, according to Smith. Age, height, weight, health and family history and the current situation could lead to more serious situations, and consideration. Individual plans and critical illness usually begin at $ 50 per month and up, depending on the age and amount of benefits you have selected.

General insurance companies would not cancel the policy if the premium paid, if payment of compensation as far as possible, when you die, or if the cancellation request.

You will not have the money to pay or if you cancel or if you are not sick, but as a life-threatening disease policy to buy "Back" feature. For example, if you die during the waiting period in the political field and the back of the drivers of premium and death, all premiums paid is returned to the payee listed on the policy or your property. Get a good return; you can not die because of disease or events that are exempt or not defined in the policy. For example, if the policy does not apply extended, and the death of one, your family can not benefit from the return of premium rider's death. If you die because of diseases such as skin cancer exclusions, premiums will not be returned.

Highlighting on what you're looking for in a critical illness policy:

  1. Standard benefits, payable if the disaster was diagnosed with the same disease.

  2. Compensation benefits, which provides compensation for medical costs associated with hospitalization and intensive care, chemotherapy, radiation, surgery, repair or preventive action.

  3. Premium rollback feature, which you return for the premium if you maintain coverage for a certain period of time without asking.

  4. Transportation benefits, which help reduce the cost of travel to and from the medical center for treatment.

  5. Regular coverage of diagnostic tests such as mammograms, Pap smears and examination of the large intestine.

In a comparison between life and critical illness cover, perhaps the most striking difference is that the policy that no benefits are paid by insurance companies. Like the title, of course, the risk insured is the owner of the policy was diagnosed during the critical period cover purchased. Lump sum may be used to provide a replacement income when no longer able to work or medical treatment or changes in buying a home for every person in critical condition for capture.

Typical of cover critical illness insurance, so remember the following:

  1. A decision on the amount of lump sum benefits will most likely be required or necessary in the event the diagnosis;

  2. Once again, the interests of the insured to determine the amount paid in monthly installments;

  3. Understanding the critical illnesses covered, because they may differ from the insurance company for insurance;

  4. Pay benefits if the insured, policy period without a full diagnosis of certain diseases is very important.

Life in the second and even serious illness, therefore, represents the cost effective way to protect you and your family and financial circumstances in the case of the unexpected.

Thursday, February 18, 2010

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Wednesday, December 2, 2009

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